PARIS, Jan 22 (Reuters) - European stocks rallied on
Thursday, with one index closing at a seven-year high, after the
European Central Bank announced it would begin buying government
bonds in a bid to revive the region's economy and stave off
deflation.

Banks and automakers were among the best performers, since
they would benefit from cheap borrowing rates and a weaker euro.

"More favourable sentiment on the euro outlook should
support cyclical sectors such as automobiles and banks," Roland
Kaloyan, the head of European equity strategy at Societe
Generale, wrote in a note. "Banks in particular should benefit
from a rebound in corporate lending."
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